Burntwood, Staffordshire-based biotech company It’s Fresh! has harvested £6.7m in an investment round led by the venture capital firm BGF.
Businesses working in the food production chain use the company’s ethylene control filters to keep vegetables and fruit fresher for longer.
Its filters remove and absorb ethylene from surroundings, which in turn delays food decay.
“The business has outlined an impressive growth strategy to capitalise on the market opportunity that’s reinforced by strong technical validation and early commercial success,” said Rowan Bird from BGF.
According to the company, its filters differ from other available options because they fully prevent ripening or flavour development and are safe for direct contact.
It’s Fresh’s Series B also draws from German-based venture capital fund Zintinus and previous backer private investment office Praesidium.
Rob Ward, CEO of It’s Fresh, said: “We’ve already generated significant traction across our core markets in USA, South America, and Southern Africa, so this latest investment round comes at a pivotal time for the business, setting us up to scale rapidly and fulfil our potential as global leaders in innovative solutions tailored to fresh produce.”
Founded in 2011, the food tech company will put the Series B cash towards growing into new areas and applying the fresh tech to modified air packaging bags.